Algert Global LLC Sells 170,950 Shares of FIGS, Inc. $FIGS

Key Points

• Algert Global LLC significantly reduced its stake in FIGS, Inc. by 81.5%, owning only 38,780 shares after selling 170,950 shares during the first quarter.
• Several institutional investors increased their holdings in FIGS, with 92.21% of the stock currently owned by institutional investors.
• The company's stock has a consensus rating of "Hold" with an average target price of $5.38, reflecting mixed analyst opinions.

Algert Global LLC cut its stake in shares of FIGS, Inc. (NYSE:FIGS - Free Report) by 81.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,780 shares of the company's stock after selling 170,950 shares during the quarter. Algert Global LLC's holdings in FIGS were worth $178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FIGS. Russell Investments Group Ltd. acquired a new position in shares of FIGS in the 1st quarter valued at about $334,000. Nuveen LLC acquired a new position in shares of FIGS in the 1st quarter valued at about $958,000. Invesco Ltd. lifted its stake in shares of FIGS by 16.5% in the 1st quarter. Invesco Ltd. now owns 169,755 shares of the company's stock valued at $779,000 after purchasing an additional 24,021 shares during the period. Fayez Sarofim & Co acquired a new position in shares of FIGS in the 1st quarter valued at about $230,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of FIGS by 11.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,043,970 shares of the company's stock valued at $4,792,000 after purchasing an additional 108,788 shares during the period. 92.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FIGS has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price objective on FIGS from $4.25 to $5.00 and gave the company an "equal weight" rating in a research note on Monday, July 21st. The Goldman Sachs Group boosted their target price on FIGS from $3.75 to $4.50 and gave the company a "sell" rating in a research report on Tuesday, July 22nd. Wall Street Zen raised FIGS from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $7.00 target price (up from $5.00) on shares of FIGS in a research report on Monday, August 4th. Finally, Barclays reaffirmed a "positive" rating on shares of FIGS in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, FIGS presently has a consensus rating of "Hold" and an average target price of $5.38.

Insider Activity at FIGS

In related news, CFO Sarah Oughtred sold 99,834 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $6.19, for a total value of $617,972.46. Following the transaction, the chief financial officer owned 878,058 shares in the company, valued at approximately $5,435,179.02. This represents a 10.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Catherine Eva Spear sold 65,866 shares of the company's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $6.88, for a total value of $453,158.08. Following the completion of the transaction, the chief executive officer owned 1,969,246 shares in the company, valued at approximately $13,548,412.48. The trade was a 3.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,661 shares of company stock worth $1,079,857. 29.44% of the stock is owned by company insiders.

FIGS Price Performance

Shares of NYSE FIGS traded down $0.13 during midday trading on Friday, reaching $7.04. The company's stock had a trading volume of 1,156,874 shares, compared to its average volume of 2,054,631. FIGS, Inc. has a 12-month low of $3.57 and a 12-month high of $7.31. The firm has a 50 day moving average price of $6.30 and a 200-day moving average price of $5.22. The stock has a market capitalization of $1.15 billion, a P/E ratio of 175.92, a PEG ratio of 4.54 and a beta of 1.34.

FIGS (NYSE:FIGS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. FIGS had a return on equity of 1.84% and a net margin of 1.26%.The business had revenue of $152.64 million for the quarter, compared to the consensus estimate of $144.17 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. FIGS's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts predict that FIGS, Inc. will post 0.01 EPS for the current year.

FIGS Profile

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.